StockNews.com Downgrades McEwen Mining (NYSE:MUX) to Sell

McEwen Mining (NYSE:MUX) (TSE:MUX) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

Several other brokerages have also recently weighed in on MUX. HC Wainwright reduced their price objective on shares of McEwen Mining from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Roth Mkm reduced their price objective on shares of McEwen Mining from $12.75 to $12.25 and set a “buy” rating on the stock in a research note on Thursday, November 7th.

McEwen Mining Stock Up 1.8 %

Shares of NYSE:MUX opened at $7.64 on Wednesday. The company has a fifty day moving average of $8.06 and a 200-day moving average of $8.78. The company has a market capitalization of $404.04 million, a PE ratio of 3.49 and a beta of 1.42. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.17. McEwen Mining has a 52-week low of $5.92 and a 52-week high of $12.50.

Institutional Trading of McEwen Mining

Several institutional investors have recently modified their holdings of the business. Van ECK Associates Corp grew its stake in shares of McEwen Mining by 2.1% in the third quarter. Van ECK Associates Corp now owns 2,163,930 shares of the basic materials company’s stock worth $20,125,000 after purchasing an additional 45,410 shares during the last quarter. Tidal Investments LLC boosted its position in McEwen Mining by 556.7% during the fourth quarter. Tidal Investments LLC now owns 1,003,830 shares of the basic materials company’s stock valued at $7,810,000 after acquiring an additional 850,971 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in McEwen Mining by 369.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 556,718 shares of the basic materials company’s stock valued at $4,331,000 after acquiring an additional 438,088 shares during the last quarter. Geode Capital Management LLC boosted its position in McEwen Mining by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 484,792 shares of the basic materials company’s stock valued at $3,774,000 after acquiring an additional 13,673 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in McEwen Mining by 1.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 399,519 shares of the basic materials company’s stock valued at $3,103,000 after acquiring an additional 5,800 shares during the last quarter. Institutional investors own 17.03% of the company’s stock.

McEwen Mining Company Profile

McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. It also explores for copper deposits. The company owns 100% interests in the El Gallo and Fenix projects located in Mexico; and the Black Fox Mine and Stock Mill, Grey Fox, and Froome and Tamarack properties in Canada.